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Twitter Is Enraged After An Entrepreneur Reveals A List Of Companies That Went Bankrupt But Paid The CEOs 7-Digit Sums
Boy, what a year. Millions of people lost their sources of income for an indefinite time. Essential workers (or “heroes,” like we all like to label them nowadays) are risking their health in order to pay their bills. Companies are going bankrupt. But no need to worry about the CEOs or the big guys—apparently, they’re all doing just fine.
Dan Price—an unorthodox entrepreneur—has recently shared what the retention bonuses of the CEOs of big companies look like. The man, whose Twitter bio reads “I cut my CEO pay by a million dollars so all workers could make at least $70,000 per year,” shared a list of companies that went bankrupt in the pandemic and paid their CEOs a bonus. And apparently, the amount of money that these businessmen made is not sitting right with most people.
More info: Twitter
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This entrepreneur shared a list of companies that paid their CEOs huge bonuses after going bankrupt
Image credits: DanPriceSeattle
“Regular person goes broke in the pandemic: 4-hour bread lines and homelessness,” Dan Price wrote in a now-viral tweet. “Company goes bankrupt in the pandemic: employees get laid off and the CEO gets a seven-figure bonus.” He went on to share a list of the companies who did just that.
The list included such giants like JC Penney and Chuck E Cheese
Image credits: DanPriceSeattle
“If you’re wondering why CEOs get bonuses for driving their companies into bankruptcy, it’s called a ‘retention’ bonus so they’ll stay on,” Dan explained. The financial incentive called a retention bonus is offered to senior execs and key employees to persuade them to stay with the company while it’s going through a disruptive period. “Just spitballing here, but maybe the CEO who led you into bankruptcy isn’t the best one to get you out, let alone at a higher pay rate,” the entrepreneur continued.
“Maybe the CEO who led you into bankruptcy isn’t the best one to get you out”
Image credits: DanPriceSeattle
The tweet shared by Dan has already been liked by more than 10k people and spread onto other social media platforms as well. “Man, some of those poor CEOs only made 6-figure bonuses. They must be practically starving in the streets,” one Imgur user commented on the tweet. “America needs a nation-wide strike,” someone added.
Here’s what other people thought
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Meami 4 years ago
This is ridiculous. People have to line up at food banks and the guys that drove their companies out of business are paid ridiculous amounts of money. Pisses me off. And as for the last comment, boomers do not wonder why the youth are open to socialism... we all get it and a huge group of us would love to see social reform. (Sorry, I'm tired of the boomer's are stupid comments.)
Connie Martin 4 years ago
Yes! I think most boomers know more history than younger people do, and aren't thrown off by the "socialism" dog whistle employed by the right. We know what the New Deal, Social Security, Medicare and other social programs have done for ALL of us.
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Luther von Wolfen 4 years ago
What? The rich look out for each other at the expense of everyone else? The system is rigged? Because the rich white slaveowners who wrote the Constitution did it that way on purpose? Well, I never....
Patti Bell 4 years ago
Republican way and the Ceos have convinced them that this way is righteous.
Load More Replies...
Aragorn II Elessar 4 years ago
As the first comment, this is the least offensive comments section I’ve ever seen
Meami 4 years ago
This is ridiculous. People have to line up at food banks and the guys that drove their companies out of business are paid ridiculous amounts of money. Pisses me off. And as for the last comment, boomers do not wonder why the youth are open to socialism... we all get it and a huge group of us would love to see social reform. (Sorry, I'm tired of the boomer's are stupid comments.)
Connie Martin 4 years ago
Yes! I think most boomers know more history than younger people do, and aren't thrown off by the "socialism" dog whistle employed by the right. We know what the New Deal, Social Security, Medicare and other social programs have done for ALL of us.
Load More Replies... Luther von Wolfen 4 years ago
What? The rich look out for each other at the expense of everyone else? The system is rigged? Because the rich white slaveowners who wrote the Constitution did it that way on purpose? Well, I never....
Patti Bell 4 years ago
Republican way and the Ceos have convinced them that this way is righteous.
Load More Replies... Aragorn II Elessar 4 years ago
As the first comment, this is the least offensive comments section I’ve ever seen
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